Turkey second-fastest growing OECD economy in Q3 2021
01 Dec 21 1 min read
Turkey has become the second-fastest growing economy in the third quarter (Q3) of this year among the members of the Organization for Economic Cooperation and Development (OECD) as its economy witnessed a growth of 7.4 per cent. The first spot is held by Chile with the highest GDP growth rate of 17.3 per cent, the international group said.
Turkey is closely followed by UK, Hungary and Lithuania, which grew at 6.6 per cent, 6.1 per cent and 6 per cent, respectively.
The lowest growth rates were posted by Slovakia and Japan, both of which grew at 1.3 per cent, as per the data released by OECD.
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Collectively OECD area economy grew at 4.7 per cent YoY in Q3 2021.
Founded in 1961, OECD is an intergovernmental economic organisation with 38 member countries that include Australia, Belgium, Canada, Denmark, Japan, New Zealand, Switzerland and US among others.
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